Terra Luna price prediction suggests that the price of LUNC token is attempting to make a breakout with the buyers’ support. LUNC price recently made a pennant trend continuation pattern on the daily chart though the buyers prevented the price from falling further. Presently, it is moving below the crucial EMAs which may act as major obstacle points for the bulls to break through.
Investor sentiments regarding the Terra Luna price are bearish at present and may remain negative unless the buyers start stepping into the price action with substantial strength. However, according to price action, it has been gaining constant support near the $0.000080 price point.
There is a steady decline in the volume which indicates that buying and selling activity has decreased since early June. The red candles are also more prominent than the green candle which suggests that sellers are more active in the trading activity.
Terra blockchain protocol utilizes fiat-pegged stablecoins to power a global payment system. According to its white paper, Terra integrates price stability and wide adoption of fiat currencies with censorship resistance of Bitcoin including fast and affordable settlements. Terra’s native token is LUNC.
The present value of Terra Luna is $0.000083 and it has a market capitalization of around $487.6 Million.
Terra Luna Price Prediction: Technical Analysis On 1-Day Timeframe
Terra Luna price prediction suggests that the token is moving within a range between support and resistance points. The Luna token is near the demand zone whereas the price recently made a doji trend reversal candle with spinning tops. The candlestick pattern suggests that selling pressure has declined in price action which may allow the buyers to step in the market.
The RSI oscillator is approaching the demand zone with steady movements. The current value of RSI is 43.84 points, whereas the 14 SMA is providing support to it at 42.12 points.
The stochastic RSI has recently crossed above the median line. The %K line has already approached supply level on the 1-day chart whereas the %D line is fast on its heels. The present value of stochastic RSI is 73.44 points.
Conclusion
As per the analysis, technical indicators, and price action, the probability of a bullish surge depends on the buyers’ willingness to support the price. The oscillators are moving in contrast. Investor sentiments regarding Terra Luna price are bearish at present, though that may change in the near future.
Technical levels
Support – $0.00008000
Resistance – $0.00012000
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2023/07/13/terra-luna-price-prediction-terra-luna-price-in-the-demand-level/